Treasury crafts five-year financial sector development strategy
STAFF WRITER
Treasury is crafting a five-year financial sector development strategy (FSDS) aimed at modernising Zimbabwe’s financial architecture and accelerating the delivery of the National Development Strategy 2 (NDS2), Business Times can report.
The blueprint, which will run from 2026 to 2030, is expected to be launched soon as part of efforts to deepen financial sector reforms.
This week, the Ministry of Finance, Economic Development and Investment Promotion convened a high-level consultative workshop to refine the strategy. The meeting was led by Deputy Minister of Finance Kudakwashe Mnangagwa and brought together key players from across the financial ecosystem.
Participants included the Reserve Bank of Zimbabwe (RBZ), the Confederation of Zimbabwe Industries (CZI), the Insurance and Pensions Commission (IPEC), the Securities and Exchange Commission of Zimbabwe (SecZim), and the Zimbabwe Stock Exchange (ZSE), as well as representatives from academia and other regulatory institutions.
The Ministry said stakeholders from both academia and industry, including Government departments and financial sector regulators, had converged to draft the FSDS document, which will guide implementation from 2026 to 2030 in alignment with NDS2 and Vision 2030.
“The FSDS is anchored on a whole-of-government and whole-of-society approach, emphasizing inclusive stakeholder consultations to ensure comprehensive coverage of key sector issues. It seeks to build a modern, efficient, stable and inclusive financial ecosystem that supports macroeconomic stability and financial sector deepening under NDS2 Pillar 1,” the Ministry said.
According to Treasury, the strategy will prioritise strengthening financial stability and resilience to economic shocks, restoring confidence and trust in the banking and financial services sector, and deepening capital markets.
It will also focus on revitalising long-term savings to support productive investment, promoting financial inclusion and innovation, leveraging financial technology and Artificial Intelligence, and reinforcing financial sector integrity in line with international best practices.
Deputy Minister Mnangagwa underscored Government’s readiness to work closely with all stakeholders to rebuild trust in the financial system, which remains central to Zimbabwe’s broader economic transformation agenda.
“…the FSDS will soon be launched for implementation over the five-year period 2026–2030, with the Government reaffirming its commitment to collaborate with all stakeholders to restore confidence and strengthen the financial sector as a foundation for national development and prosperity,” Mnangagwa said.
The forthcoming strategy is expected to serve as a cornerstone reform instrument under NDS2, positioning the financial sector as a catalyst for sustainable growth, investment mobilisation and long-term economic resilience.
